Iress CEO Marcus Price plans succession as takeover interest increases
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The news: Financial services industry software provider Iress has announced that its CEO Marcus Price in discussions with the board regarding a potential departure from the role.
The company also said it has been in the early stages of engaging with "third parties" along with Blackstone and Thoma Bravo over a potential acquisition.
The context: An executive search firm has been engaged over the last few months to review potential succession options that will inform timing of any CEO move.
With regards to the potential acquisition interest, the company highlighted that “there can be no certainty of any proposal or offer being presented to the company or that any offer, if received, will lead to a binding transaction”, according to a statement to the exchange.
Earlier this month, Iress confirmed it was in talks with investing giants Blackstone and Thoma Bravo over a possible acquisition of the company.
For the first half of 2025, Iress reported no growth in profit when compared to the same period in the previous year.
The source: ASX
